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General Obligations

ILLINOIS (STATE OF) - Moody's Research Report

MOODY'S ASSIGNS A2 RATING TO STATE OF ILLINOIS' APPROXIMATELY $1.8 BILLION OF GENERAL OBLIGATION REFUNDING BONDS, SERIES OF MAY 2012

Posted on: April 17, 2012, 3:56 pm

NEW YORK, April 17, 2012 --Moody's Investors Service has assigned a rating of A2 to the State of Illinois' planned $1.8 billion issuance of General Obligation Refunding Bonds Series of May 2012. Proceeds of the issue will refinance previously issued debt for interest-cost savings. The bonds, which are tentatively scheduled to price during the week of April 30, will generate a saving estimated at more than $100 million (subject to market conditions) on a net present value basis, or about 6% of the refunded bonds' par amount...

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